Accelerated Client Experience

PennMutual’s Accelerated Client Experience (ACE) platform launched 5 years ago, marking one of the most substantial technological advancements in the life insurance industry in recent time.  Since its creation, over 107,000 life insurance policies have been issued with a total face amount of over $100 billion dollars.  More than 7,400 financial professionals have successfully utilized the ACE platform to help provide the life insurance coverage their clients need.

So what is the ACE platform?  ACE is a completely digital life insurance buying experience.  A life insurance agent is able to email an invitation to a client to create an application which is filled out entirely online, and electronically signed.  The application can be completed with the guidance of an agent during a Zoom session, or left to be done at the client’s convenience.  The software does not allow for incomplete or improperly filled paperwork to be submitted, so there is no possibility of a “NIGO” (not in good order) issue that causes an agent to go back to a client for additional signatures with substantial delays, as often occurs with traditional paper applications.

What does the ACE application entail? The client will be filling out the same information as a typical insurance application – a list of medications prescribed, doctor information, a list of any treated conditions, family medical history, current insurance info, etc. 

Here is where the real value comes into play:  in most cases, an approval offer will be given without medical exams, fluid tests, APS requirements, or telephone interviews.  A policy can actually be issued within hours of submitting the application.  Hours – instead of the many weeks and sometimes months that the traditional underwriting process could take.

Here are the parameters.  Clients must be between the ages of 20 and 65, be applying for $7.5 million or less of death benefit coverage (including existing PennMutual coverage in place), and be assessed at a health rating of standard or better.  (Currently, this is not available for residents of New York state, or on survivorship contracts).  Clients that will be substandard ratings will still need to go through traditional fluid-underwriting.  If there are discrepancies between a client’s prescription or medical history and what is disclosed on the application, this will also likely trigger full traditional underwriting.

Even accounting for the applications when a full medical exam is required, the implementation of the ACE platform has created a 50% reduction in policy issue time.  There is a 93% placement ratio for cases that receive an instant rate class (compared to a 73% ratio for paper applications), and ACE submissions account for over 90% of all life insurance applications submitted to PennMutual.

While other insurance carriers have limited offerings of accelerated underwriting, PennMutual’s ACE program offers the widest availability on the product base with the highest amount of potential coverage.

What does this mean for insurance agents?  The ACE platform creates a level of efficiency in business processing that has not been seen before in the insurance industry.  Tracking case status and communicating updates to clients has never been easier.

What does this mean for clients?  The life insurance buying process has traditionally been a painful process that has acted as a hurdle for instituting a vital part of one’s financial planning.  By creating a simplistic, efficient path to coverage, the ACE platform is a tool that can encourage clients to enact the protection for families across the country.

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Karen

VP of Operations                        

Karenis the VP of Operations at Empire Wealth Strategies, bringing years of experience in the industry as an Office Manager, Recruiting Coordinator and Administrative Assistant. She has extensive experience in issue resolution, process improvement, relationship building, and office administration. She is a NYS Certified Paralegal, Notary Public and holds the Customer Experience Essentials Certificate from LOMA.

When she’s not working, Karen enjoys spending time with her two grown children and her dog, Bailey.

VAnessa

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With more than 20 years of experience working in various industries as an Administrative Assistant, Vanessa has a strong ability to streamline processes, maximize efficiency, and foster professional relationships within organizations. Vanessa’s philosophy centers around what role she can play in helping others find solutions. She is committed to excellence in service. She predicts need and always practices personal accountability in the workplace.

Michael Kane

CEO/Managing Partner

Michael Kane With over 10 years of experience in the financial services industry, Michael Kane has dedicated his career to building an elite team of Financial Services Representatives in the New York market. Michael has a track record of developing teams comprised of both highly productive, experienced representatives who are driving to take their career to new heights, as well as a host of young professionals who are eager to learn from them.

Michael’s passion for the financial services industry is driven

Chris Andrews

Director of Sales and Recruiting

Chris Andrews joined Empire Wealth Strategies as Director of Business Development in August of 2019 after 7 years serving as a financial advisor. Chris is involved in all aspects of Empire’s growth and national expansion. His key role is to identify talent and align strategic partnerships that lead to symbiotic growth. He is passionate in his work to empower the voices and success of the right leaders in the financial advisory and insurance industry. With a marketing degree and background, Chris enables the leaders of our profession who are passionate in serving a specific target market to align the right resources, support and partnerships to expand their businesses exponentially.

Outside of work, Chris is a family man, a socialite, and an avid outdoorsman. He likes spending his free time with his wife, family and friends, running, hiking and biking, reading and traveling as much as he can. He’s traveled to over 15 countries around the world between Asia, Europe, Africa, North, South and Central America. When he’s not hopping on planes, you can find him at his home in Astoria, Queens with his wife, Morgan.

Zach Bloemen

Director of Sales and Recruiting

Zach Bloemen, is a fierce leader at Empire Wealth Strategies helping to serve new and existing clients and evaluate potential partnerships with other financial advisors around the country. With nearly a decade of experience as an advisor he is authentically familiar with the importance of partnerships, access to decision makers and the ease of doing business in order to deliver prudent financial planning to individuals, families and business owners.

Zach relates to advisors who seek growth and sustainability through all market cycles in true business owner fashion and understands the importance of surrounding the right leaders with right resources in an effective team environment. While motivated to scale his own business to a transferable enterprise in the future, Zach is passionate in helping other financial professionals do the same. With a multitude of experienced advisors searching for more independence, support, marketing flexibility, control and ownership of their books of business, Zach believes there is no better time than now to partner with a firm that promotes the growth of your business your way.

With extensive leadership experience in Marine Special Operations, sports and business, Zach aims to empower other leaders, learn from them, support them and celebrate their success in partnership with EWS.

Zach is a Colorado native married to Dawn his middle school sweetheart. Together they have three children, Noah, Reagan and Jaxon who all enjoy the outdoors, camping, hunting, fishing, sports, exercise and good food. Zach instills accountability in himself each morning by telling his kids to “Be a Leader!”

Scott Francis

Vice President of Sales

My role at the agency is to partner with each of the departments that make the day to day operation run well. By partnering with the teams recruiters I am able to share my experience as both a leader and as a former financial advisor to help attract top industry talent. I also work closely with both the internal sales desk and internal coaching team to provide the type of support necessary for our financial professionals. There are also times where we will work with outside experts as well to enhance the experience for the financial professionals. With a background in operations from when I entered the industry I will spend time each day working with the agency internal team as well as the home office team to facilitate Life New Business and Broker Dealer operations. This has been useful to tie the sales and operations side of the agency together and work towards our common goal of growth. Finally I am constantly thinking and working with the agency experience team to make sure all of the team members are top of mind and doing business with ease. Most of my day is spent solving problems for our financial professionals.

If there is one thing that I believe is important it would be service. I make it a point to put myself in the shoes of the person I am trying to help. When problems occur I find that communication is critical. I also am always working on proactive items to tackle issues before they arise. My goal is to grow our agency with quality people both in sales and on our leadership team. I am very proud of what the agency has accomplished in the past 5 years.

I hold a series 7, 65, 63 and 24 as well as Life and Health.

When I am not working I am usually at a field with one of my 3 children or watching some type of sport.

Linda Vescio

Director of Business Development

Linda began running her family business in 2013. Through that experience she has gained an aptitude for being process driven and results oriented. Her knowledge of marketing and experience has developed throughout her tenure as a business owner in addition to what she has accomplished at Empire Wealth Strategies.

Since joining the agency in 2017 Linda has developed into one of the front line leaders. In her previous role as the Vice President of agency operations Linda lead a team of 7 and developed workflow and efficiency parameters that propelled the agency into doubling in size in only 5 years.

In her current role Lin has taken new hires and their teams to the next level of business potential. Starting with transition support and moving into Brand, Logo and website creation Lin uses her past experience and creativity to help agents fulfill their vision. In addition Lin has also put together a team of marketing and practice management support including some leaders in the industry.

Lin is always up to a new challenge and welcomes the opportunity to work with new advisors and new ideas. Her main objective is to stay on the cutting edge of technology and industry standards.

Angelina weeks

Director of Coaching

Angelina Weeks is a certified business coach with 16 years experience in the financial services industry. She has mastered the art of coaching financial advisors and learned to be the best resource possible to help them breakthrough and elevate their business. As a business development coach, she offers guidance, unique strategies and tools to level up your business. With an outside perspective from someone you can trust, you are offered ideas and advice to help you capitalize on growth opportunities. Angelina shares, “Your business is similar to that of an elite athlete. You may have the drive, the skills and the vision, but there are times when you need support to ensure you stay on the right path to reach your goals.”

Through well-designed tools and systems, Angelina will help track and measure your performance allowing you to break through barriers that level up your performance and business. Most everyone knows or has heard the phrase that “motivation is temporary” and it’s true. We all get excited to start something and at some point while pushing through the hard work, the excitement wears off. As your coach, Angelina is what’s on the other side when the motivation and excitement loses its energy. Every advisor has the potential to breakthrough and perform at a higher level; it’s all about having the right people on your team supporting you to get you there.

JIM COONEY

Director of Advanced Sales

Jim Cooney, as the Director of Advanced Sales, is dedicated to supporting the growth of your business. As a CFP, ChFC, CLU, and FSCP, he has committed to maintaining an extensive knowledge of the industry and the ability to create unique financial solutions to bring to your clients. He offers a wide range of case design support offerings, from fact find analysis, inforce insurance audits, investment allocation analysis, Monte Carlo and cash flow planning, to ‘in the field’ support for joint case work. Jim also has experience in aiding financial professionals expand their practices utilizing concepts such as premium financing, executive compensation planning, and business insurance strategies. He can offer book of business reviews to help discover new opportunities to assist your existing client base with these advanced concepts.

Areas of Expertise

  • Premium Financing
  • Monte Carlo Analysis & Retirement Projections
  • Business Insurance Strategies
  • Executive Compensation Strategies
  • Cash Flow Analysis & Tax Advantaged Investing